Which blockchains are the fastest?

[libert19]

If you remember vividly, Solana network which some people feel is the fastest network and scalability solution blockchain network has experience down time(system crash)  unfortunately, many users were stranded.for hours. I think the whole issue of fastest transactions blockchain networks depends on the number of users at any point, when is influs of huge crowds of users at certain point, the system may be unable to function properly and could result in system brake down.
In my opinion, Speed, scalability, and other transactions features depends mainly on the number of users.

I also had bad experiences with solana.

I made some transactions which simple didn't go through.  I had to make them again.

This never happened with bitcoin or ethereum for example.

I don't think solana is "the" solution for this problem...

Downtime issue is big but on your transaction failure — did you pay transaction fee and yet transaction was not processed? If it's so, it's a problem, otherwise relatively less of a trouble, especially if you were able to complete it soon after.

I remember years back, made a transaction on Ethereum, transaction didn't went through and I paid 15 USD for it. I was pissed. This has been solved now though.

[bitmover]

Downtime issue is big but on your transaction failure — did you pay transaction fee and yet transaction was not processed? If it's so, it's a problem, otherwise relatively less of a trouble, especially if you were able to complete it soon after.

I remember years back, made a transaction on Ethereum, transaction didn't went through and I paid 15 USD for it. I was pissed. This has been solved now though.

This is different.

I paid the fees. The transaction was in queue for a quick confirmation.  But it just disappeared. Gone, nothing in the blockchain and nothing im history.

Very weird. It happened 2 times using phantom wallet . I had to make another transaction.

Later on, I discovered this is somewhat common in solana.

[libert19]

Downtime issue is big but on your transaction failure — did you pay transaction fee and yet transaction was not processed? If it's so, it's a problem, otherwise relatively less of a trouble, especially if you were able to complete it soon after.

I remember years back, made a transaction on Ethereum, transaction didn't went through and I paid 15 USD for it. I was pissed. This has been solved now though.

This is different.

I paid the fees. The transaction was in queue for a quick confirmation.  But it just disappeared. Gone, nothing in the blockchain and nothing im history.

Very weird. It happened 2 times using phantom wallet . I had to make another transaction.

Later on, I discovered this is somewhat common in solana.

Weird! If you can't see your transaction on blockchain, how did you pay transaction fees? Also, it could be a wallet issue as well, try using Solflare, if you find same happening there.

[bitmover]

Downtime issue is big but on your transaction failure — did you pay transaction fee and yet transaction was not processed? If it's so, it's a problem, otherwise relatively less of a trouble, especially if you were able to complete it soon after.

I remember years back, made a transaction on Ethereum, transaction didn't went through and I paid 15 USD for it. I was pissed. This has been solved now though.

This is different.

I paid the fees. The transaction was in queue for a quick confirmation.  But it just disappeared. Gone, nothing in the blockchain and nothing im history.

Very weird. It happened 2 times using phantom wallet . I had to make another transaction.

Later on, I discovered this is somewhat common in solana.

Weird! If you can't see your transaction on blockchain, how did you pay transaction fees? Also, it could be a wallet issue as well, try using Solflare, if you find same happening there.

I paid the fees before it disappeared

Then, ofc when the transaction disappeared my balance became the same again. The fees were spend  within the transaction...

I have seen similar reports elsewhere:
https://www.reddit.com/r/solana/comments/1bvwf3l/transaction_disappearing/

Looks to be something related to congested network

[dkbit98]

Very weird. It happened 2 times using phantom wallet . I had to make another transaction.

Later on, I discovered this is somewhat common in solana.

It sounds like that fake blockchain is worse piece of sh1t than I initially thought it was.
With so many blockchain stops and breaks, it's probably one of the ''top'' blockchains with most downtime in history of all blockchains.
Meanwhile, bitcoin uptime remains at 99.98% since 2009, that is more than 15 years!
https://bitcoinuptime.com

[bitmover]

Meanwhile, bitcoin uptime remains at 99.98% since 2009, that is more than 15 years!
https://bitcoinuptime.com

More important than being fast is being stable and reliable

Bitcoin is really unique. Who would think of solana or eth or any other coin for long term holding? For hedge against inflation or store of value?

[TomPluz]

More important than being fast is being stable and reliable. Bitcoin is really unique. Who would think of Solana or Eth or any other coin for long term holding? For hedge against inflation or store of value?

Yes, that is so true...we all want a fast blockchain but we must not sacrifice reliability and stability because what's the use of fast if a transaction will eventually be problematic, that would be worthless. While many people are looking at Bitcoin as really not so fast, we can be sure of its security above all else. And that is why when we are talking of HODLING for the long-term and what blockchain is getting the top spot as a store of value, Bitcoin is the name and nothing else, not even Solana and Ethereum for that matter though they can be good for investing too.

[Mr. Magkaisa]

The only network I often use when I have a transaction is BSC, Trx, and Solana. I rarely use it, but it is also fast compared to BSC and Trx, according to my observation.
But as far as I know, Solana is also often experiencing congestion in the network, followed by Ton, and sometimes it's BSC, but it also rarely happens.

In the bitcoin network, it's not fast, although sometimes there are times when it's fast. but usually not really.
 
 

[bitmover]

In the bitcoin network, it's not fast, although sometimes there are times when it's fast. but usually not really.
 

Isn't 10 minutes fast enough for 90% of the situations in a daily life?

When you buy stuff in the internet or in apps (which are very common nowadays)..

[dkbit98]

More important than being fast is being stable and reliable

Some things need to be faster.
You can't have slow working phone calls with delay, or slow delay internet, slow response when you type something on your computer.
But for decentralized blockchains you usually have to sacrifice something to have very fast trasanctions.

Bitcoin is really unique. Who would think of solana or eth or any other coin for long term holding? For hedge against inflation or store of value?

I would never hold s0lana for anything, ethreum is still better, but I am not sure about anything as long term hedge against inflation.

[God Of Thunder]

What do you think, how important is speed and what does it mean for the future of each blockchain?

I think speed is important. For altcoins, the faster the blockchain is, the more people love to use that. I have a feeling and I personally believe that Binance Smart Chain got popularity because of it's faster and more efficient than ETH mainnet. There was a lot of hype for the ETH project because of the capabilities of smart contracts. But as soon as more and more projects were launching on the ETH net, it was becoming slower and more expensive.

The Binance smart chain provided more efficiency for the projects, and then the projects started to migrate to the Binance smart chain. It's happened because it was faster and cheaper. A lot has happened since then. But when it comes to Bitcoin blockchain, I guess it has a different purpose. Bitcoiners know that each transaction will take 10 minutes on average, and the community still loves it.

[bitmover]

The Binance smart chain provided more efficiency for the projects, and then the projects started to migrate to the Binance smart chain. It's happened because it was faster and cheaper. A lot has happened since then. But when it comes to Bitcoin blockchain, I guess it has a different purpose. Bitcoiners know that each transaction will take 10 minutes on average, and the community still loves it.

The point is that congested blockchains are more expensive.

Until 2019 it was basically free to move eth anywhere. Then, the network just became congested.

Binance chain doesn't have this problem because it is less congested and more centralized

[God Of Thunder]

The point is that congested blockchains are more expensive.

Until 2019 it was basically free to move eth anywhere. Then, the network just became congested.

Binance chain doesn't have this problem because it is less congested and more centralized

What was the reason for that congestion? I guess it happened because there were a lot of projects launching on the ETH mainnet which was causing the congestion. A similar thing happened to the Bitcoin network when BRC-20 tokens and NFTs were launched on Bitcoin networks. Tokens like 1000sats and some others created hype, and these token transactions affected the Bitcoin network. I am afraid that a similar thing will happen with the Bitcoin network again. As time passes by, the number of transactions will increase, which will consume more space on each block, and this congestion will increase the transaction fees again. 1 sat/vb was a standard fee at some time, and it will increase day by day.

[bitmover]

The point is that congested blockchains are more expensive.

Until 2019 it was basically free to move eth anywhere. Then, the network just became congested.

Binance chain doesn't have this problem because it is less congested and more centralized

What was the reason for that congestion? I guess it happened because there were a lot of projects launching on the ETH mainnet which was causing the congestion.

Smartcontracts become much more complex after some time.

DEX and NFTs processing power is much bigger and occupies a lot of space in a block compared to old smartcontracts... and also there are much more people doing much more transactions than before.

[Asiska02]

The only network I often use when I have a transaction is BSC, Trx, and Solana. I rarely use it, but it is also fast compared to BSC and Trx, according to my observation.
But as far as I know, Solana is also often experiencing congestion in the network, followed by Ton, and sometimes it's BSC, but it also rarely happens.

In the bitcoin network, it's not fast, although sometimes there are times when it's fast. but usually not really.

I have used the BSC, TRX and TON network really well and the one I can see to be very fast is the BSC network especially when sending out USDT stable coin through the network. I have used others I mentioned also in several occasions but my top pick is the BSC network. Congestions may happen time to time in the network but I haven’t been stuck in a network congestion that is not allowing my transaction to pass through quickly. According to Coigecko statistics, Solana seems to take the first position but since I’ve not used that network as much as I can remember, I can’t say confidently that it is very fast like the rest that I’ve used.